WILMINGTON, DE, UNITED STATES, September 12, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “A2 milk market by Form, Packaging Form and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021–2027,” the global a2 milk market was valued at $1,129.7 million in 2019, and is projected to reach $3,699.2 million by 2027, registering a CAGR of 15.8% from 2021 to 2027. The a2 milk market is expected to exhibit an incremental revenue opportunity of $2.3 billion from 2020 to 2027. The market growth is propelled by the rising emergence of lactose intolerance, milk allergies, environmental concerns, and health consciousness.
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The key players operating in the a2 milk industry include GCMMF (Amul), Erden Creamery Private Limited, Freedom Foods Group Limited, Lion Dairy & Drinks, Provilac Dairy Farms Pvt. Ltd., Ripley Farms LLC, Taw River Dairy, The a2 Milk Company Limited, Urban Farms Milk and Vinamilk.
A large portion of the population has difficulty digesting dairy and dairy products. This is due to the presence of a1 beta casein protein in the milk. Hence, the consumption of dairy products experienced a decline in the recent past owing to several health-related concerns. However, a2 milk is regarded as a type of milk that is easier to digest and arguably does not cause any digestive disorders among consumers with lactose intolerance. This has led to innovation in the field of a2 milk market trends that drives the market growth. Furthermore, a2 milk powder has huge potential applications in the food & beverage industry, including confectionery, ice creams, yogurt, flavored milk/beverages, among others. However, the fluctuations of milk prices and comparatively high prices of a2 milk as compared to conventional milk are expected to hinder the a2 milk market growth.
Owing to the outspread of Covid 19, the demand for functional beverages as a result of growing consumer spending and health consciousness has experienced substantial growth. COVID-19 is expected to further boost the demand for a2 milk at a much higher rate in the global market. An increase in awareness amongst people to strengthen their immunity & immune system to prevent themselves from being infected easily is compelling them to maintain a healthy lifestyle and proper diet.
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On the basis of form, the liquid a2 milk category accounted for the maximum share in the global a2 milk market in 2019. Liquid a2 milk is most owing to its high rate of consumption and convenience. Consumers prefer fresh milk for direct consumption since it offers important nutrients required by humans, including proteins, calcium and vitamins. However, the powder a2 milk segment is expected to grow at a higher CAGR during the forecast period.
On the basis of packaging form, the carton segment accounted for the maximum share in the global a2 milk market in 2019. Cartons enable to provide a longer shelf life to the product, incur lower transport costs and are also convenient and safer to use for consumers. Thus, owing to this growing preference and propelling consumption, the carton segment accounted for a higher value share in the global a2 milk market size and is anticipated to retain its position during the forecast period.
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On the basis of distribution channel, the supermarket & hypermarket segment accounted for the maximum a2 milk market share in 2019. Supermarkets & hypermarkets provide high visibility and attractive assortment of plant-based products to consumers. This enables them to discover new variety and understand the labels and differentiate better among products. Furthermore, supermarket chains are one of the highest visited stores for purchasing grocery items. Hence, this factor is expected to boost the sales of a2 milk in the market. However, the online retail segment is anticipated to grow at the highest CAGR during the forecast period.
On the basis of region, Asia-Pacific was the prominent market for a2 milk in 2019. This can be attributed to the tremendous popularity and substantial consumption of a2 milk beverage in the region. Furthermore, the availability of cow breeds that produce a2 milk is abundant in the region. However, the North America region is expected to witness a significant CAGR during the a2 milk market forecast period, owing to rapid demand and acceptance of a2 milk beverages as a result of high consumer spending, lactose intolerance among large population and growing health consciousness.
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Key findings of the study
By form, the liquid segment was the highest contributor to the market, with $849.5 million in 2019, and is estimated to reach $2,754.30 million by 2027, at a CAGR of 15.7% during the forecast period.
By packaging form, the carton segment was the highest contributor to the a2 milk market with $603.7 million in 2019, and is estimated to reach $2,009.90 million by 2027, at a CAGR of 16.1% during the forecast period.
By distribution channel, the supermarket & hypermarket segment he supermarket & hypermarket segment was the highest contributor to the market, with $401.4 million in 2019. However, the online retail segment is anticipated to grow at the highest CAGR.
In 2019, Asia-Pacific region was the most prominent market however North America region is expected to grow at a significant CAGR throughout the forecast period.
David Correa
Allied Market Research
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